ITAT Remands Section 54F Exemption Dispute: Directs Assessing of Residential Status of Properties

Madhusudhan Jaju Vs Income Tax Officer (ITAT Hyderabad) The Income Tax Appellate Tribunal (ITAT), Hyderabad, has issued an order partly allowing the appeal filed by Shri Madhusudhan Jaju against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, for the assessment year 2013-14. The Revenue’s cross-objection was also allowed for statistical purposes, with certain aspects remanded back to the Assessing Officer (AO) for further verification. The case originated from a reassessment initiated under Section 147 of the Income Tax Act, 1961, aft...